Virtual currencies may be the future of mobile payments. Quepasa Corporation, the company behind social sites myYearbook and Quepasa, announced it has expanded its mobile virtual currency monetization by launching "Offers" on mobile.

With Offers, mobile user earn Credits, i.e., virtual currency, by installing Android apps or watching incented iPhone videos. Credits can be spent on virtual items. 

"Mobile daily usage on iPhone and Android experienced double-digit percentage growth since the start of the year, recently surpassing 60 percent of all daily myYearbook visitors logging in on mobile," said Geoff Cook, COO, Quepasa Corporation.

Cook said the company is seeing encouraging signs of virtual currency monetization on the mobile platforms and that average daily revenue from purchased Credits has increased more than 300 percent since the launch of mobile Credits.

"Mobile users have been four to five times more likely to buy Credits than users on the web, primarily due to reduced payment friction," Cook said.

Headquartered in New Hope, Penn., Quepasa's social networking sites, mostly aimed at the Latino market, reach more than 78 million users across the Americas.

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